Regulation
IIB responds to commission disclosure decision
The Institute of Insurance Brokers(IIB) has welcomed the long-awaited feedback statement from the Financial Services Authority (FSA) regarding transparency and commission disclosure in the commercial market.
Buncefield report published on third anniversary of blast
The cost of the Buncefield explosion could cost £1bn, according to the Major Incident Investigation Board report, which was published on Friday.
IIB slams FSA plans for unlimited compensation limits
The Institute of Insurance Brokers has voiced strong opposition against unlimited Financial Services Compensations Scheme awards.
Novae gets A- rating from Fitch
Novae Insurance Company Limited (NICL)has been given an insurer financial strength (IFS) rating of 'A-' (A minus) by ratings agency Fitch.
Helphire announces board shake-up
Helphire has appointed Charles Lambert as finance director on an interim basis with effect from 1January.
Broking trio approved to buy California earthquake cover
The California Earthquake Authority Governing Board has approved Aon Benfield, Guy Carpenter and Willis Re to work on the CEA's behalf to meet the reinsurance needs of the nation's largest residential earthquake insurance provider.
Scor concludes legacy issue with SEC
Scor has reached an agreement with the US Securities and Exchange Commission to resolve a long-running investigation involving the entity formerly known as Converium.
Adviser jailed for commissions scam
An adviser who cheated major insurance companies into paying over £1 million in up-front commissions on fake policies has been jailed for five years.
Max Capital's oulook revised to positive by AM Best
Bermudian (re)insurer Max Capital Group has had its outlook upgraded to 'positive' from 'stable' on all of its ratings by AM Best.
Brokers concerned over UK insurers' endurance
It appears that all this talk of recession is certainly getting to the UK's brokers. With many well...
Question of cover
A recall of Irish pork will cost pig farmers dearly, as none of the suppliers in the Republic and No...
NAIC adopts US proposal
The National Association of Insurance Commissioners has adopted its reinsurance regulatory modernisa...
The price of safety
Legal Focus: Health and safety
No bailout needed claims Swiss Re
Insurers are unlikely to need a banking industry-style government bailout, despite an expected deter...
Held to account
Legal Focus: Corporate manslaughter
FSA warns travel firms
The Financial Services Authority has warned travel firms that currently sell insurance alongside a h...
Clinical care comes under the spotlight
Atwood v Health Service Commissioner (Queen's Bench Division - 6 October 2008)
Premiums grow
Premiums in the non-life sector grew by 11.6% in 2007, research from Swiss Re has revealed. Accordin...
FSA to back Biba offer
The Financial Services Authority is not expected to back mandatory disclosure of commission disclosu...
Appointment at Glacier Group
Glacier Group has appointed Andreas Zdrenyk as head of group risk management. Based in the group's h...
RIMS supports NAIC proposal
The Risk and Insurance Management Society said that it was "encouraged" that the National Association of Insurance Commissioners has approved the Reinsurance Regulatory Modernization Framework Proposal at its recent Winter National meeting.
FSA hands out PPI fine
The Financial Services Authority has fined Egg Banking £721 000 for serious failings in its sales of credit card payment protection insurance, the organisation announced today.
AIG General China still sees growth in Chinese non-life market
(BESTWIRE) Despite the problems associated with the current global economic downturn, the new chairman of American International Group Inc.'s China nonlife insurance unit said he is confident the rapid growth of China's economy will lead to profitable…
Swiss Re predicts severe recession in 2009 in industrialised economies; emerging markets better
Swiss Re's economists predict a severe recession until mid 2009 in industrialised economies, including the United States and Europe. In emerging markets, slower growth is expected but not a full-blown recession. In 2008, the insurance industry…